Member Info for Strider4

Share is close to cheapest it's ever been here. It hit an all-time low, and rebounded quickly, at the start of November, at which point, taking account of the spread, you'd have been lucky to pick some up for 1.5p. Upside potential PLENTY from here. Downside risk not so much - cashed up to the tune of £3.6 million (yes that's pounds not dollars) and with a prudent management. Plenty enough to weather the storm. And I believe that by the time all the punters realize that the storm has cleared these bargain levels will be history and the lucky ones will be jumping on the train at station 10p.

Have you been in this share long mannnan? What are your thoughts on what iron ore price they might need to kick things off again?

I've sent a query to WAFM regarding that as it's really important and will see what they come back with. I'll post a summary of the response here.

Does anyone know if this figure has been mentioned anywhere? Just trying to get an idea of at what level they might start moving things forward. The board continue to show prudence going forward. They announced further cost cutting in the latest RNS and are sitting pretty with $3.6 million in the bank. They've mentioned that they are keeping an eye out for bargain acquisitions too. An announcement of one of those could rocket the share price. Worth noting that countless other less prudent boards on AIM would have jumped into the first aqcuisition they could find, almost regardless of merit, in an attempt to "grow" the company and shareprice and keep the punters happy. After all, they can always raise more money at shareholder's expense if they run out...

Just take a look at how closely the shareprice of this company has followed the iron ore price in the last 3 years - down from 65p. Now the iron ore price was last at $80/ton in October 2014. What was the shareprice back then? It was more like 4.5-5p. Yes there's been a bit of dilution since then but even so we should be at 4p now. Basically, this share is HUGELY sensitive to the price of iron ore and when that cycles back up again then people buying in at this level will make 30x their money.

Go button may be pressed at any point. We're seeing examples of other exploration companies with base metal assets that have been in hibernation mode starting to open up again (e.g. AYM). When that happens here could see 4x the current shareprice in a couple of days.

Are you in here too Troajan? Could be a real winner in the short to medium term. Cashed up too.

I wonder at what iron ore price the BOD will pull the trigger and set the plan in motion. Could be getting close and things will start getting tasty very quickly at that point I think. From the Feb 2015 RNS: "While we recognize the depressed state of the current iron ore market, the Sanaga resource represents an opportunity to develop a low capital intensity and low operating cost project. This positions WAFM to be a first mover in Cameroon as and when the current iron ore pricing environment improves."

Good to see just how quickly this share can shift on relatively little volume. Bodes well for the future.

Looking at the iron ore price chart, it's been gong down for the last 5 years and appears to have formed a head and shoulders bottom, which is strongly bullish. Combine the fact that commodities are cyclical with a potential Trump super-spend and there are all the ingredients for a BIG rise in the price of iron ore over the next few years.

Starting to look like a proper breakout now. Should get people's attention.

Doesn't appear to be a lot of free float in this share? I got a pretty poor spread on purchase. Still, bodes well for when this really starts to move as people won't be able to get the shares that they want! This could easily do a ZIOC+ as a reaction to iron ore prices.

Worth mentioning! There's £3.6 million in the bank. Secondly the directors have got plenty of stake in this - Brad Mills at 12% and the successful Jim Mellon at ~6%. I very much like their strategy of slimming down costs until iron ore takes off again. Very prudent and nice to see in management. They only spent £0.7 million last year! So there's almost zero danger of either this going bust or them needing to fundraise for a very long time. Meantime, iron ore starts going wild again like it did a few years ago and we can all enjoy the ride back up towards then valuations of the company in the 50s, 60s plus.

Shareprice rising off a strong base at the start of an uptrend. Iron ore demand likely to go up - and then prices. Shareprice used to be 80p in the iron ore hay day a few years ago. A couple of million in the bank. Large prospects.

It's clearly a solid company that's making money but are there indications of expansion/acquisition in the future? As the promise of dividends and just chugging along with an existing asset at the same level isn't going to excite most aim investors.

One poster had this as his "comfy slippers" share a couple of weeks ago. Not so comfy now. This has gone dangerously close to my sell price (at a loss). Looking for a good bounce over the next few days. Otherwise the short to mid-term prognosis doesn't look particularly appealing.

Thanks. That makes sense to me. All but the direction of the shareprice!

Any ideas what they are going to do with that spare cash?

for £5k's worth of Sylvania goodness. Hugely positive RNS. Shareprice trending up above the 50 day MA.

Fair enough. I'm just bitter because I bought a long time ago.